4th Circuit Affirms Rulings In Class Action Over Tribal Lending

Mealey's (November 19, 2021, 1:32 PM EST) -- RICHMOND, Va. — A loan arbitration provision requiring the arbitrator to apply only tribal law in resolving disputes arising from high-interest payday loans made by tribal lenders is unenforceable, and tribal sovereign immunity does not protect tribal officials from class claims leveled by Virginia borrowers, the Fourth Circuit U.S. Court of Appeals held Nov. 16 in affirming....